FCB will feature 16 teams representing various regions of the country. Registration is open for players who are 15+ years, and the best performers will be selected, subject to an intensive 22-city talent search.
The league aims at discovering the most talented and passionate amateur cricketers from across the country.
InsideSport.co had reported last week about the Shetty and Zaheer Khan joint venture.
After two intense selection rounds involving several thousand aspiring cricketers across multiple cities in India, the final 224 players will be divided into 16 teams.
These teams, which will be mentored by internationally renowned cricketers and leading coaches from across India, will then compete with each other in an exciting 15-over a side format.
Each shortlisted player will receive a participation fee of Rs 1 lakh along with exciting cash rewards for the winning teams.
The top 14 performers of FCB will be given a once-in-a-lifetime opportunity to represent the FCB All Stars Team and participate in a local club level tournament in Australia.